Will consider 'reasonable' changes in FSA clause: Coal Min

Coal Minister Sriprakash Jaiswal is expecting a breakthrough in fuel supply agreement (FSA) issue and allocation of coal blocks within a month. In an exclusive interview to CNBC-TV18, he said that the crucial meeting with CMO is expected tomorrow on issues related to the Coal India FSAs like the penalty and import.

Jaiswal said that the ministry has already signed more than 50% of the FSAs. However, there are still roadblocks as some power companies have not yet agreed to the FSA clauses.
Hence, the ministry is considering reasonable changes in the FSA clause, Jaiswal informed. He is aiming for the FSA issue resolution within 10-15 days. On Coal India
Referring to the tussle with The Children's Investment Fund (TCI) in regards to Coal India (CIL), Jaiswal said that the ministry will reply to the legal notice at the right time. UK-based investor had warned of dragging CIL to court if the PSU failed to meet deadline to set FSA coal price at market level.
He also said that Coal India will have to import to meet requirements as it is not possible to meet all of India's needs without imports
TCI is the biggest foreign investor in CIL and has a minority stake in it. It has been accusing the PSU of not protecting minority shareholders' interest and harming the company by not opposing FSA.
Earlier, it had estimated that if CIL sells its FSA coal at market price levels, its profits will increase by USD 19 billion and had alleged that large industrial companies had pushed the government to impose new FSAs on CIL at the cost of the company. On CAG report
Adding that the ministry is cooperating fully with CBI, Jaiswal said that he has not yet received CAG report on coal blocks' allocation. 
A CAG report said that private companies made windfall gains of Rs 1.86 lakh crore through opaque policy of allocating awarding coal blocks. “Coal allocation policy was 100% correct,” he reiterated.
He stressed that the CBI will investigate if the coal ministry was misled and an inter-ministerial group (IMG) has been set up to review the allocated coal blocks. Allocation of coal blocks to private companies for captive use commenced in 1993 after the Coal Mines (Nationalisation) Act, 1973 was amended. Also watch the accompanying video.